Charlie Munger Discusses Goldman Sachs on CNBC

May 3, 2010 1:38 amby

I previously posted a video of Warren Buffett defending Goldman Sachs. Charlie Munger also weighed in on the debate in an interview with Becky Quick on CNBC.

In the interview with Becky Quick, Charlie Munger rips Richard Fuld of Lehman Brothers and says he is guilty “megalomania” and “isolation”. Charlie Munger also gives Goldman Sachs CEO Lloyd Blankfein an endorsement, however munger states that he believes the Goldman engaged in practices that are “socially undesirable”. Munger gave a weaker of a defense of Goldman than Warren Buffett gave in his interview.

Below is the video. The video is only three minutes long but is golden. Munger rarely gives interviews, so whenever he does it is worth watching.